Germany’s Service Sector Thrives as Export Bans on Scrap Materials Loom in Israel

As the European economy gains momentum, a recent report shows that Germany’s service sector is performing particularly well. This was indicated by an unexpected rise in the Purchasing Managers’ Index (PMI) in April to its highest level in 11 months.

Meanwhile, discussions are underway to introduce restrictions on iron and steel scrap exports in Israel due to a shortage of these materials. A draft law has been proposed to require export licenses for scrap and implement quantitative quotas to address the scarcity in the country.

Export bans on scrap have become more common globally as countries seek to address shortages. The European Union is also considering an export ban as part of its Waste Shipment Regulation, following calls from domestic steel producers.

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